Benzinga | Oct 6, 2021 01:41PM EDT

New Inverse Leveraged Cannabis ETF Launches: MJIN By ETFMG

The new ETFMG 2x Daily Inverse Alternative Harvest ETF (NYSE:MJIN) from thematic ETF issuer ETF Managers Group LLC (ETFMG) started trading on the New York Stock Exchange on Wednesday.

MJIN is designed to seek daily leveraged investment results, before fees and expenses, of two times the inverse (-2x) (or opposite) of the performance of the Prime Alternative Harvest Index, providing investors access to the global cannabis ecosystem and benefitting directly from widespread medicinal and recreational legalization initiatives.

"The launch of MJIN marks another first-to-market for ETFMG and rounds out our full suite of cannabis investment offerings," said Sam Masucci, CEO and founder of ETFMG. "We are a one-stop-shop for investors looking to capitalize on the global and U.S. cannabis sectors."

MJIN is ETFMG's fourth cannabis exchange-traded fund, joining:

* The ETFMG Alternative Harvest ETF (NYSE:MJ), the first U.S. listed and world's largest cannabis ETF,

* The ETFMG US Alternative Harvest ETF (NYSE:MJUS), providing access to top names in U.S. cannabis, including multi-state operators (MSOs)

* The ETFMG 2X Daily Alternative Harvest ETF (NYSE:MJXL), providing 2x daily the performance of the Prime Alternative Harvest Index.

The Fund also adds to the firm's suite of 2x Daily Leveraged ETFs, structured to give investors short-term, magnified exposure to high-growth themes already offered by ETFMG.

Other cannabis ETFs in the market include:

* The AdvisorShares Pure Cannabis ETF (NYSE:YOLO)

* The AdvisorShares Pure US Cannabis ETF (NYSE:MSOS)

* The Cannabis ETF (NYSE:THCX)

* The Amplify Seymour Cannabis ETF (NYSE:CNBS)

M?s contenido sobre cannabis en Espa?ol en El Planteo:

* Gerentes Explican sus ETF de Cannabis: MJ

* ETF de Acciones Psicod?licas Horizons, Contado por su Gestor de Fondos